Baz, coming out of the lurk mode since I posted here last January when I bought a number of different drillers because I felt, as most here do, that this sector was a real value play. I STILL DO! I started averaging down Friday (went lower) and today (went lower), and am ready to buy more tomorrow - so we haven't hit bottom yet. <g> This glut WILL end because OPEC and other oil producing countries have to pay their bills, and they can't do that until they keep a balance between supply and demand - even if they don't want too. They will, and I think that they have been quiet these last few days because they will announce major REAL cutbacks in a few weeks (or less). If we are in pain now, think of all the arm twisting that must be going on now behind closed doors. <g> Lofty pronouncements, that will not be kept, are over, IMHO.
Thanks for your great post!
Bernie, keeping the faith.
p.s., If anyone is averaging UP, please identitify yourself so that you can be nominated for a genius award, or the best liar's award on SI. |
